[Federal Register Volume 85, Number 72 (Tuesday, April 14, 2020)]
[Notices]
[Pages 20688-20690]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2020-07747]


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FEDERAL DEPOSIT INSURANCE CORPORATION

[OMB No. 3064-0061; -0125; and -0176]]


Agency Information Collection Activities: Proposed Collection 
Renewal; Comment Request

AGENCY: Federal Deposit Insurance Corporation (FDIC).

ACTION: Notice and request for comment.

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SUMMARY: The FDIC, as part of its obligations under the Paperwork 
Reduction Act of 1995 (PRA), invites the general public and other 
Federal agencies to take this opportunity to comment on the renewal of 
the existing information collections described below (OMB Control No. 
3064-0061; -0125; and -0176).

DATES: Comments must be submitted on or before June 15, 2020.

ADDRESSES: Interested parties are invited to submit written comments to 
the FDIC by any of the following methods:
     https://www.FDIC.gov/regulations/laws/federal.
     Email: [email protected]. Include the name and number of 
the collection in the subject line of the message.
     Mail: Manny Cabeza (202-898-3767), Regulatory Counsel, MB-
3128, Federal Deposit Insurance Corporation, 550 17th Street NW, 
Washington, DC 20429.
     Hand Delivery: Comments may be hand-delivered to the guard 
station at the rear of the 17th Street building (located on F Street), 
on business days between 7:00 a.m. and 5:00 p.m.
    All comments should refer to the relevant OMB control number. A 
copy of the comments may also be submitted to the OMB desk officer for 
the FDIC: Office of Information and Regulatory Affairs, Office of 
Management and Budget, New Executive Office Building, Washington, DC 
20503.

FOR FURTHER INFORMATION CONTACT: Manny Cabeza, Regulatory Counsel, 202-
898-3767, [email protected], MB-3128, Federal Deposit Insurance 
Corporation, 550 17th Street NW, Washington, DC 20429.

SUPPLEMENTARY INFORMATION: 
    Proposal to renew the following currently approved collections of 
information:
    1. Title: Summary of Deposits.
    OMB Number: 3064-0061.
    Affected Public: FDIC-insured depository institutions.
    Burden Estimate:

[[Page 20689]]



                                                                Summary of Annual Burden
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                                                                                                                             Estimated
                                                                Obligation to         Estimated     Estimated  frequency     time per        Estimated
 Information collection description      Type of burden            respond            number of        of  responses         response      annual burden
                                                                                     respondents                              (hours)         (hours)
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Summary of Deposits................  Reporting............  Mandatory............           4,299  Annually.............               3          12,897
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    Total Estimated Annual Burden: 12,897 hours.
    General Description of Collection: The Summary of Deposits (SOD) is 
the annual survey of branch office deposits as of June 30 for all FDIC-
insured institutions, including insured U.S. branches of foreign banks. 
All FDIC-insured institutions that operate a main office and one or 
more branch locations (including limited service drive-thru locations) 
as of June 30 each year are required to file the SOD Survey. Insured 
branches of foreign banks are also required to file. All data collected 
on the SOD submission are available to the public. The survey data 
provides a basis for measuring the competitive impact of bank mergers 
and has additional use in research on banking.
    2. Title: Foreign Banking Investments by Insured State Nonmember 
Banks.
    OMB Number: 3064-0125.
    Affected Public: Insured state nonmember banks and state savings 
associations.
    Burden Estimate:

                                                                Summary of Annual Burden
--------------------------------------------------------------------------------------------------------------------------------------------------------
                                                                                      Estimated                           Estimated time     Estimated
 Information collection description      Type of burden         Obligation to         number of     Estimated  frequency   per response    annual burden
                                                                   respond           respondents       of  responses          (hours)         (hours)
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Notices or Applications to           Reporting............  Mandatory............               1  On Occasion..........               2               2
 establish, move, or close a
 foreign branch (303.182).
Filings for authorization for        Reporting............  Mandatory............               1  On Occasion..........              40              40
 foreign branch to engage in
 activities other than those
 permitted in 347.115 (303.121).
Merger transactions involving        Reporting............  Mandatory............               1  On Occasion..........               6               6
 foreign organizations (303.185(b)
 referencing 303.62).
Filings to invest in foreign         Reporting............  Mandatory............               2  On Occasion..........              60             120
 organizations, or to engage in
 certain activities through foreign
 organizations (303.183(b) and\or
 303.121).
Notice of foreign divestiture of     Reporting............  Mandatory............               2  On Occasion..........               1               2
 foreign organization (303.183)(d).
Document Policies and Procedures     Recordkeeping........  Mandatory............              10  On Occasion..........             400           4,000
 for Supervision of Foreign
 Activities of foreign activities
 (347.116) (Implementation).
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    Total Estimated Annual Burden: 4,170 hours.
    General Description of Collection: The Federal Deposit Insurance 
(FDI) Act requires state nonmember banks to obtain FDIC consent to 
establish or operate a foreign branch, or to acquire and hold, directly 
or indirectly, stock or other evidence of ownership in any foreign bank 
or other entity. The FDI Act also authorizes the FDIC to impose 
conditions for such consent and to issue regulations related thereto. 
This collection is a direct consequence of those statutory 
requirements.
    3. Title: Reverse Mortgage Products.
    OMB Number: 3064-0176.
    Affected Public: Insured state nonmember banks and state savings 
associations making reverse mortgage.
    Burden Estimate:

                                                                Summary of Annual Burden
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                                                                                                                             Estimated
                                                                                             Estimated       Estimated       time per        Estimated
  Information collection description        Type of burden        Obligation to  respond     number of     frequency of      response      annual burden
                                                                                            respondents      responses        (hours)         (hours)
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Reverse Mortgage Products--            Third-Party Disclosure..  Voluntary..............               1               1              40              40
 Implementation.
Reverse Mortgage Products--Ongoing...  Third-Party Disclosure..  Voluntary..............              31               1               8             248
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[[Page 20690]]

    Total Estimated Annual Burden: 288 hours.
    General Description of Collection: Respondents must prepare and 
provide certain disclosures to consumers (e.g., that insurance products 
and annuities are not FDIC-insured) and obtain consumer 
acknowledgments, at two different times: (1) Before the completion of 
the initial sale of an insurance product or annuity to a consumer; and 
(2) at the time of application for the extension of credit (if 
insurance products or annuities are sold, solicited, advertised, or 
offered in connection with an extension of credit).

Request for Comment

    Comments are invited on: (a) Whether the collection of information 
is necessary for the proper performance of the FDIC's functions, 
including whether the information has practical utility; (b) the 
accuracy of the estimates of the burden of the information collection, 
including the validity of the methodology and assumptions used; (c) 
ways to enhance the quality, utility, and clarity of the information to 
be collected; and (d) ways to minimize the burden of the collection of 
information on respondents, including through the use of automated 
collection techniques or other forms of information technology. All 
comments will become a matter of public record.

Federal Deposit Insurance Corporation.
    Dated at Washington, DC, on April 8, 2020.
Robert E. Feldman,
Executive Secretary.
[FR Doc. 2020-07747 Filed 4-13-20; 8:45 am]
 BILLING CODE 6714-01-P